Cinven swoops on Old Mutual's Italian unit in $335 mln takeover

August 1, 2016 4:02 PM

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LONDON Aug 1 European private equity fund Cinven is about to start exclusive talks to buy the Italian wealth arm of financial services firm Old Mutual for about 300 million euros ($335.22 million), a source with knowledge of the deal told Reuters.

The Anglo-South African group plans to wrap up the sale of its Milan-based subsidiary by the end of August, the source said.